Manama: Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in the Kingdom of Bahrain, has signed a strategic agreement with Diyar Al Muharraq to offer mortgage financing for the “Al Wasem” residential project. The partnership introduces exclusive features aimed at facilitating early access to property financing, paving the way for a faster and more flexible real estate acquisition process.
Under the agreement, BisB is offering financing for “Al Wasem’s“ seafront and inner plots. The offering also removes the need for a property evaluation, streamlining the process for prospective buyers. In addition, reservation payments made on the plots will be recognised as part of the customer’s down payment.
“We are delighted to partner with Diyar Al Muharraq, which represents a significant step in our real estate financing plans at Bahrain Islamic Bank. By removing traditional barriers such as property evaluation and simplifying early-stage funding, we are responding directly to the needs of our customers. As demand grows for flexible Sharia’a compliant solutions, our role is to ensure that pathways to homeownership are both accessible and aligned with today’s market demands,” Faisal Al Abdulla, Chief Retail Banking Officer at BisB, said.
“We are proud to enter this strategic collaboration with Bahrain Islamic Bank as part of our ongoing efforts to offer integrated solutions that simplify the path to homeownership within one of our most distinctive developments, the ‘Al Wasem’ project. By offering mortgage financing through a well-established and trusted financial institution such as BisB, we are reaffirming our commitment to delivering a seamless and accessible customer experience—aligned with our vision to create sustainable communities that meet the aspirations of individuals and families across Bahrain,” Mohamed Al Mahmood, Head of Sales at Diyar Al Muharraq, said, while commenting on the partnership.
BisB continues to play an active role in advancing Bahrain’s national housing objectives by promoting inclusive access to home financing. The agreement underscores the Bank’s continued efforts to strengthen collaboration between the banking and real estate sectors, enabling families across the Kingdom to secure homes through practical and Sharia’a compliant solutions.
